Thermax Limited Logo

Thermax Limited

THERMAX.NS

(2.2)
Stock Price

5.003,00 INR

0% ROA

16.66% ROE

81.56x PER

Market Cap.

605.944.006.800,00 INR

0% DER

0.24% Yield

7.33% NPM

Thermax Limited Stock Analysis

Thermax Limited Fundamental Analysis

Fundamental analysis in stock investing is like studying the foundation of a house before buying it. It involves looking at a company's financial health, like its earnings, assets, and debts, to determine if it's a good investment based on its fundamental strength and potential for growth.

Thermax Limited Fundamental Stock Analysis
# Analysis Rating
1 DER

The stock has a minimal amount of debt (11%) relative to its ownership, showcasing a strong financial position and lower risk for investors.

2 Dividend

The company's consistent dividend distribution over the past five years reflects its dedication to providing shareholders with steady returns, making it an appealing choice for investors seeking income stability.

3 ROE

The stock's ROE falls within an average range (13.25%), demonstrating satisfactory profitability and efficiency in utilizing shareholders' equity.

4 ROA

The stock's ROA (6.07%) shows that it's doing a pretty good job at making money from its assets, making it a solid choice to invest and earn steady profits.

5 Assets Growth

This company's revenue has shown remarkable growth over the past three years, making it an excellent choice for seeking a consistently prosperous investment.

6 Dividend Growth

Investors can be encouraged by the company's strong dividend growth over the past three years, highlighting its ability to generate consistent returns and provide an attractive investment opportunity.

7 Buffet Intrinsic Value

The company's stock presents an enticing opportunity as it appears undervalued (56.565) by Warren Buffett's formula, indicating that its intrinsic value exceeds the market price.

8 PBV

The stock's elevated P/BV ratio (9.13x) raises concerns about its overvaluation, making it an imprudent choice for investors seeking value.

9 Revenue Growth

Company's revenue has remained stagnant over the past three years, indicating a lack of growth and making it a less favorable option.

10 Net Profit Growth

The net profit of this company has shown no signs of growth over the last five years, suggesting limited profitability and making it a less attractive investment opportunity.

11 Graham Number

The company's Graham number indicates that it is overvalued compared to its stock price, suggesting a potentially unfavorable investment opportunity.

Thermax Limited Technical Analysis

Technical analysis in stock investing is like reading the patterns on a weather map to predict future weather conditions. It involves studying past stock price movements and trading volumes to make predictions about where a stock's price might go next, without necessarily looking at the company's financial health.

Thermax Limited Technical Stock Analysis
# Analysis Recommendation
1 Awesome Oscillator Sell
2 MACD Sell
3 RSI Hold
4 Stoch RSI Sell

Thermax Limited Price Chart

Financial Statements

Financial statements are like report cards for companies. They show how much money a company makes (income statement), what it owns and owes (balance sheet), and where it spends its money (cash flow statement), helping stock investors understand if a company is healthy and worth investing in.

Income Statements

An income statement for a company is like a scoreboard for its profits and losses. It shows how much money the company made (revenue) and how much it spent to make that money (expenses), helping stock investors see if a company is making a profit or not.

Revenue in stock investing is the total amount of money a company earns from its sales, and it's a key factor that investors consider to assess a company's financial performance and growth potential.

Thermax Limited Revenue
Year Revenue Growth
2004 12.813.600.000
2005 16.397.700.000 21.86%
2006 23.626.400.000 30.6%
2007 35.254.200.000 32.98%
2008 35.007.000.000 -0.71%
2009 34.221.900.000 -2.29%
2010 53.950.500.000 36.57%
2011 60.912.100.000 11.43%
2012 54.330.500.000 -12.11%
2013 50.283.100.000 -8.05%
2014 53.396.300.000 5.83%
2015 54.247.100.000 1.57%
2016 43.861.300.000 -23.68%
2017 43.704.900.000 -0.36%
2018 58.863.100.000 25.75%
2019 56.553.900.000 -4.08%
2020 47.102.400.000 -20.07%
2021 60.640.300.000 22.32%
2022 80.898.100.000 25.04%
2023 92.098.400.000 12.16%
2023 93.234.600.000 1.22%
2024 87.376.400.000 -6.7%

Research and Development Expenses are the costs a company incurs to create and improve its products or services, which can be important for investors to evaluate a company's innovation and potential for future growth.

Thermax Limited Research and Development Expenses
Year Research and Development Expenses Growth
2004 0
2005 0 0%
2006 0 0%
2007 0 0%
2008 0 0%
2009 0 0%
2010 0 0%
2011 0 0%
2012 0 0%
2013 0 0%
2014 119.000.000 100%
2015 200.000.000 40.5%
2016 195.600.000 -2.25%
2017 226.100.000 13.49%
2018 314.300.000 28.06%
2019 282.500.000 -11.26%
2020 265.600.000 -6.36%
2021 312.500.000 15.01%
2022 322.100.000 2.98%
2023 0 0%
2023 350.200.000 100%
2024 0 0%

General and Administrative Expenses are the costs a company incurs to run its day-to-day operations, such as office rent, salaries, and utilities, which investors consider to understand a company's overall efficiency and management effectiveness.

Thermax Limited General and Administrative Expenses
Year General and Administrative Expenses Growth
2004 1.499.300.000
2005 2.085.900.000 28.12%
2006 2.558.400.000 18.47%
2007 4.374.900.000 41.52%
2008 5.195.200.000 15.79%
2009 4.611.500.000 -12.66%
2010 0 0%
2011 4.354.900.000 100%
2012 745.400.000 -484.24%
2013 766.500.000 2.75%
2014 805.000.000 4.78%
2015 686.400.000 -17.28%
2016 614.400.000 -11.72%
2017 707.500.000 13.16%
2018 802.800.000 11.87%
2019 933.600.000 14.01%
2020 909.100.000 -2.69%
2021 1.154.000.000 21.22%
2022 1.420.500.000 18.76%
2023 0 0%
2023 1.735.800.000 100%
2024 0 0%

EBITDA stands for Earnings Before Interest, Taxes, Depreciation, and Amortization. It is a measure that helps stock investors analyze a company's profitability by looking at its earnings without considering certain expenses. This helps to get a clearer picture of the company's financial performance and its ability to generate cash flow.

Thermax Limited EBITDA
Year EBITDA Growth
2004 1.170.900.000
2005 1.909.400.000 38.68%
2006 3.195.100.000 40.24%
2007 4.728.100.000 32.42%
2008 4.636.300.000 -1.98%
2009 2.169.200.000 -113.73%
2010 6.318.900.000 65.67%
2011 6.862.600.000 7.92%
2012 5.764.700.000 -19.05%
2013 4.987.600.000 -15.58%
2014 5.635.100.000 11.49%
2015 6.308.400.000 10.67%
2016 5.671.200.000 -11.24%
2017 4.671.100.000 -21.41%
2018 4.927.800.000 5.21%
2019 5.025.800.000 1.95%
2020 4.315.100.000 -16.47%
2021 4.912.200.000 12.16%
2022 7.575.100.000 35.15%
2023 10.809.200.000 29.92%
2023 7.973.900.000 -35.56%
2024 5.646.000.000 -41.23%

Gross profit is the money a company makes from selling its products or services after subtracting the cost of producing or providing them, and it is an important measure for investors to understand a company's profitability.

Thermax Limited Gross Profit
Year Gross Profit Growth
2004 4.594.600.000
2005 6.539.700.000 29.74%
2006 9.047.600.000 27.72%
2007 13.031.900.000 30.57%
2008 14.205.500.000 8.26%
2009 13.951.400.000 -1.82%
2010 17.704.400.000 21.2%
2011 18.473.800.000 4.16%
2012 15.307.900.000 -20.68%
2013 16.077.300.000 4.79%
2014 16.658.300.000 3.49%
2015 16.879.300.000 1.31%
2016 15.086.800.000 -11.88%
2017 14.807.400.000 -1.89%
2018 17.289.200.000 14.35%
2019 17.712.400.000 2.39%
2020 14.872.900.000 -19.09%
2021 17.303.400.000 14.05%
2022 34.651.300.000 50.06%
2023 40.877.600.000 15.23%
2023 28.075.300.000 -45.6%
2024 25.130.400.000 -11.72%

Net income in stock investing is like the money a company actually gets to keep as profit after paying all its bills, and it's an important measure to understand how well a company is doing financially.

Thermax Limited Net Profit
Year Net Profit Growth
2004 672.000.000
2005 1.025.300.000 34.46%
2006 1.937.200.000 47.07%
2007 2.907.200.000 33.37%
2008 2.889.400.000 -0.62%
2009 1.439.000.000 -100.79%
2010 3.816.300.000 62.29%
2011 4.035.200.000 5.42%
2012 3.201.300.000 -26.05%
2013 2.459.900.000 -30.14%
2014 2.097.700.000 -17.27%
2015 2.753.600.000 23.82%
2016 2.161.400.000 -27.4%
2017 2.321.100.000 6.88%
2018 3.254.300.000 28.68%
2019 2.124.500.000 -53.18%
2020 2.065.800.000 -2.84%
2021 3.123.100.000 33.85%
2022 4.502.900.000 30.64%
2023 6.309.200.000 28.63%
2023 6.452.800.000 2.23%
2024 4.632.400.000 -39.3%

EPS, or earnings per share, is a measure that shows how much profit a company has earned for each outstanding share of its stock, and it is important for stock investors as it helps understand the profitability of a company and compare it with other companies in the market.

Thermax Limited Earning per Share (EPS)
Year Earning per Share (EPS) Growth
2004 5
2005 8 28.57%
2006 16 56.25%
2007 24 33.33%
2008 24 0%
2009 12 -100%
2010 32 62.5%
2011 34 3.03%
2012 27 -26.92%
2013 21 -30%
2014 18 -17.65%
2015 25 32%
2016 20 -31.58%
2017 21 5%
2018 29 28.57%
2019 19 -55.56%
2020 18 0%
2021 28 33.33%
2022 40 30.77%
2023 56 30.36%
2023 57 1.75%
2024 41 -39.02%

Cashflow Statements

Cashflow statements show the movement of money in and out of a company, helping stock investors understand how much money a company makes and spends. By examining cashflow statements, investors can assess if a company is generating enough cash to pay its bills, invest in growth, and provide returns to stockholders.

Free cash flow is the leftover cash that a company generates after covering its operating expenses and capital expenditures, which is important for stock investors as it shows how much money a company has available to invest in growth, pay dividends, or reduce debt.

Thermax Limited Free Cashflow
Year Free Cashflow Growth
2004 619.100.000
2005 1.815.400.000 65.9%
2006 2.866.500.000 36.67%
2007 -510.100.000 661.95%
2008 -309.400.000 -64.87%
2009 5.478.400.000 105.65%
2010 -176.400.000 3205.67%
2011 -1.110.400.000 84.11%
2012 -2.640.300.000 57.94%
2013 877.300.000 400.96%
2014 2.888.400.000 69.63%
2015 2.588.900.000 -11.57%
2016 2.157.700.000 -19.98%
2017 3.332.400.000 35.25%
2018 -2.700.700.000 223.39%
2019 2.775.800.000 197.29%
2020 693.950.000 -300%
2020 6.861.100.000 89.89%
2021 2.409.300.000 -184.78%
2022 -1.903.800.000 226.55%
2023 -5.932.000.000 67.91%
2024 0 0%

Operating cash flow represents the cash generated or consumed by a company's day-to-day operations, excluding external investing or financing activities, and is crucial for stock investors as it shows how much cash a company is generating from its core business operations.

Thermax Limited Operating Cashflow
Year Operating Cashflow Growth
2004 1.073.900.000
2005 2.074.900.000 48.24%
2006 3.526.800.000 41.17%
2007 1.407.500.000 -150.57%
2008 1.605.500.000 12.33%
2009 6.318.100.000 74.59%
2010 1.330.100.000 -375.01%
2011 2.613.900.000 49.11%
2012 867.800.000 -201.21%
2013 3.584.500.000 75.79%
2014 3.181.300.000 -12.67%
2015 4.133.500.000 23.04%
2016 3.345.800.000 -23.54%
2017 5.335.900.000 37.3%
2018 -1.154.200.000 562.3%
2019 3.255.800.000 135.45%
2020 813.950.000 -300%
2020 7.694.800.000 89.42%
2021 3.247.100.000 -136.97%
2022 4.595.600.000 29.34%
2023 2.507.400.000 -83.28%
2024 0 0%

Capex, short for capital expenditures, refers to the money a company spends on acquiring or upgrading tangible assets like buildings, equipment, or technology, which is important for stock investors as it indicates how much a company is investing in its infrastructure to support future growth and profitability.

Thermax Limited Capital Expenditure
Year Capital Expenditure Growth
2004 454.800.000
2005 259.500.000 -75.26%
2006 660.300.000 60.7%
2007 1.917.600.000 65.57%
2008 1.914.900.000 -0.14%
2009 839.700.000 -128.05%
2010 1.506.500.000 44.26%
2011 3.724.300.000 59.55%
2012 3.508.100.000 -6.16%
2013 2.707.200.000 -29.58%
2014 292.900.000 -824.27%
2015 1.544.600.000 81.04%
2016 1.188.100.000 -30.01%
2017 2.003.500.000 40.7%
2018 1.546.500.000 -29.55%
2019 480.000.000 -222.19%
2020 120.000.000 -300%
2020 833.700.000 85.61%
2021 837.800.000 0.49%
2022 6.499.400.000 87.11%
2023 8.439.400.000 22.99%
2024 0 0%

Balance Sheet

Balance sheets provide a snapshot of a company's financial health and its assets (such as cash, inventory, and property) and liabilities (like debts and obligations) at a specific point in time. For stock investors, balance sheets help assess the company's overall worth and evaluate its ability to meet financial obligations and support future growth.

Equity refers to the ownership interest or stake that shareholders have in a company, representing their claim on its assets and earnings after all debts and liabilities are paid.

Thermax Limited Equity
Year Equity Growth
2004 4.561.500.000
2005 4.594.000.000 0.71%
2006 5.899.500.000 22.13%
2007 7.595.100.000 22.32%
2008 9.923.900.000 23.47%
2009 10.875.900.000 8.75%
2010 13.669.100.000 20.43%
2011 17.409.700.000 21.49%
2012 19.789.500.000 12.03%
2013 21.779.500.000 9.14%
2014 22.244.200.000 2.09%
2015 24.548.800.000 9.39%
2016 25.390.100.000 3.31%
2017 27.147.400.000 6.47%
2018 30.142.900.000 9.94%
2019 30.279.000.000 0.45%
2020 32.513.900.000 6.87%
2021 34.924.900.000 6.9%
2022 38.702.200.000 9.76%
2023 39.927.700.000 3.07%
2023 44.398.000.000 10.07%
2024 44.398.000.000 0%

Assets represent the valuable resources that a company owns, such as cash, inventory, property, and equipment, and understanding a company's assets helps investors assess its value and potential for generating future profits.

Thermax Limited Assets
Year Assets Growth
2004 9.999.800.000
2005 11.421.900.000 12.45%
2006 17.900.200.000 36.19%
2007 20.496.100.000 12.67%
2008 24.054.200.000 14.79%
2009 33.790.100.000 28.81%
2010 40.880.100.000 17.34%
2011 46.728.900.000 12.52%
2012 49.650.400.000 5.88%
2013 59.421.100.000 16.44%
2014 58.283.100.000 -1.95%
2015 62.359.100.000 6.54%
2016 50.604.700.000 -23.23%
2017 59.450.300.000 14.88%
2018 67.999.400.000 12.57%
2019 59.558.900.000 -14.17%
2020 65.068.700.000 8.47%
2021 74.611.100.000 12.79%
2022 88.386.100.000 15.59%
2023 93.131.100.000 5.09%
2023 101.530.100.000 8.27%
2024 0 0%

Liabilities refer to the financial obligations or debts that a company owes to creditors or external parties, and understanding a company's liabilities is important for investors as it helps assess the company's financial risk and ability to meet its obligations.

Thermax Limited Liabilities
Year Liabilities Growth
2004 5.438.300.000
2005 6.827.900.000 20.35%
2006 12.000.700.000 43.1%
2007 12.901.000.000 6.98%
2008 14.130.300.000 8.7%
2009 22.914.200.000 38.33%
2010 27.211.000.000 15.79%
2011 29.319.200.000 7.19%
2012 29.860.900.000 1.81%
2013 37.641.600.000 20.67%
2014 36.038.900.000 -4.45%
2015 37.810.300.000 4.68%
2016 25.214.600.000 -49.95%
2017 32.302.900.000 21.94%
2018 37.856.500.000 14.67%
2019 29.279.900.000 -29.29%
2020 32.554.800.000 10.06%
2021 39.686.200.000 17.97%
2022 49.683.900.000 20.12%
2023 53.203.400.000 6.62%
2023 57.132.100.000 6.88%
2024 0 0%

Thermax Limited Financial Ratio (TTM)

Valuation Metrics

Revenue per Share
850.19
Net Income per Share
62.35
Price to Earning Ratio
81.56x
Price To Sales Ratio
6.33x
POCF Ratio
416.21
PFCF Ratio
440.37
Price to Book Ratio
12.9
EV to Sales
6.57
EV Over EBITDA
67.67
EV to Operating CashFlow
457.36
EV to FreeCashFlow
457.36
Earnings Yield
0.01
FreeCashFlow Yield
0
Market Cap
605,94 Bil.
Enterprise Value
629,33 Bil.
Graham Number
743.68
Graham NetNet
207.61

Income Statement Metrics

Net Income per Share
62.35
Income Quality
0.2
ROE
0.17
Return On Assets
0
Return On Capital Employed
0
Net Income per EBT
0.75
EBT Per Ebit
1.21
Ebit per Revenue
0.08
Effective Tax Rate
0.26

Margins

Sales, General, & Administrative to Revenue
0
Research & Developement to Revenue
0
Stock Based Compensation to Revenue
0
Gross Profit Margin
0.37
Operating Profit Margin
0.08
Pretax Profit Margin
0.1
Net Profit Margin
0.07

Dividends

Dividend Yield
0
Dividend Yield %
0.24
Payout Ratio
0
Dividend Per Share
12

Operating Metrics

Operating Cashflow per Share
12.22
Free CashFlow per Share
12.22
Capex to Operating CashFlow
0
Capex to Revenue
0
Capex to Depreciation
0
Return on Invested Capital
0.13
Return on Tangible Assets
0
Days Sales Outstanding
0
Days Payables Outstanding
0
Days of Inventory on Hand
0
Receivables Turnover
0
Payables Turnover
0
Inventory Turnover
0
Capex per Share
0

Balance Sheet

Cash per Share
207,61
Book Value per Share
0,00
Tangible Book Value per Share
0
Shareholders Equity per Share
394.23
Interest Debt per Share
9.03
Debt to Equity
0
Debt to Assets
0
Net Debt to EBITDA
2.51
Current Ratio
0
Tangible Asset Value
0,00 Bil.
Net Current Asset Value
23,38 Bil.
Invested Capital
23381700000
Working Capital
23,38 Bil.
Intangibles to Total Assets
0
Average Receivables
10,70 Bil.
Average Payables
7,66 Bil.
Average Inventory
3824500000
Debt to Market Cap
0

Dividends

Dividends in stock investing are like rewards that companies give to their shareholders. They are a portion of the company's profits distributed to investors, typically in the form of cash payments, as a way for them to share in the company's success.

Thermax Limited Dividends
Year Dividends Growth
2002 5
2003 5 0%
2004 12 58.33%
2005 12 0%
2006 3 -300%
2007 6 50%
2008 8 25%
2009 5 -60%
2010 5 0%
2011 9 44.44%
2012 7 -28.57%
2013 7 0%
2014 6 -16.67%
2015 7 14.29%
2016 6 -16.67%
2017 6 0%
2018 6 0%
2019 7 14.29%
2020 7 0%
2021 7 0%
2022 9 22.22%
2023 10 10%
2024 12 16.67%

Thermax Limited Profile

About Thermax Limited

Thermax Limited provides energy, environment, and chemical solutions in India and internationally. It operates through three segments: Energy, Environment, and Chemical. The company offers vapor absorption and hybrid chillers, heat pumps, chiller-heaters, and heat transformers; evaporative condensers, closed loop cooling towers, adiabatic and dry coolers, radiators, and air cooled heat exchangers and condensers; EPC solutions, such as cogen or trigen power plants, air cooled condensers, bio-CNG plants, waste heat recovery power plants, and refinery process units; and renewable energy solutions. It also provides oil and gas fired boilers, heat recovery boilers and systems, high pressure boilers, lean gas and solid fuel fired boilers, hot water generators, waste to energy boilers, fired heaters and process furnaces, waste heat recovery units, thermal oil heaters and vaporizers, hot water and air generators, energy plants, and packaged and modular units, as well as specialized services. In addition, the company offers air pollution control and water and waste solutions; and chemicals, such as ion exchange resins, water and fuel treatment chemicals, oil field chemicals, and construction chemicals. It serves agriculture, automobiles and auto components, aviation, biotechnology, cement, commercial/construction, engineering and capital goods, as well as food and beverages, fast moving consumer goods, healthcare, hospitality, infrastructure, IT and datacenter, manufacturing, medical devices, metals, oil and gas, paper and pulp, pharmaceuticals, power, renewable energy, rubber, telecommunications, textiles, and wood industries. The company was founded in 1966 and is headquartered in Pune, India. Thermax Limited is a subsidiary of RDA Holdings Private Limited.

CEO
Mr. Ashish Bhandari
Employee
5.225
Address
Thermax House
Pune, 411003

Thermax Limited Executives & BODs

Thermax Limited Executives & BODs
# Name Age
1 Mr. Rajendran Arunachalam
Executive Vice President & Group Chief Financial Officer
70
2 Ms. Khele Janhavi Kishor
Company Secretary & Compliance Officer
70
3 Mr. Ashish Bhandari
MD, Chief Executive Officer & Additional Director
70
4 Mr. Jasmeet Bhatia
Executive Vice President & Chief Human Resources Officer
70
5 Mr. Hemant Mohgaonkar
Executive Vice President & BU Head of New Energy
70
6 Mr. Pravin Karve
President of TBWES and P&ES
70
7 Mr. B. C. Mahesh
Executive Vice President & BU Head of Industrial Product Business
70
8 Mr. Dinesh Mandhana
Executive Vice President & BU Head of Chemical
70
9 Mr. Kirtiraj Jilkar
Executive Vice President and BU Head of P&ES
70
10 Dr. Amit Sethi
Executive Vice President and Chief Digital & Information Officer
70

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